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No bottom yet for falling commodities, Scotiabank finds

Posted on 30 January 2009

From Theglobeandmail.com: Global commodity prices have not yet hit bottom, but they are not falling as fast as they have been, Bank of Nova Scotia said Thursday. The pace of decline is slowing and the forced, indiscriminate asset selling by funds – triggered by investor redemptions and tight credit – appears to be subsiding.

Patricia Mohr, vice-president of economics and commodity market specialist at the bank, said in a monthly report: “Many prices are approaching average world cash costs, triggering substantial production cuts, new project deferral and tighter supplies.”…. Full Article: Sourcer


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